The ongoing crisis in the Red Sea has significantly impacted container fleet deployment patterns in the first half of 2024. As anticipated, the disruption caused by this critical waterway’s closure has led to a surge in capacity being directed towards routes bypassing the Red Sea.
Data shows that since the crisis began in November 2023, over 1.7 million TEU (Twenty-foot Equivalent Unit) of new container ship capacity has been deployed globally. This additional capacity is strategically concentrated on trade lanes directly affected by the Red Sea closure. The most significant increases have been witnessed on routes connecting Far East Asia to the Mediterranean, particularly the Far East-Europe route. Here, an additional 1.4 million TEU of capacity has been deployed to meet demand.
This strategic shift in deployment reflects the critical role the Red Sea plays in global container shipping. The closure has forced shipping lines to adjust their operations and utilize longer routes to ensure cargo reaches its destination. This situation is likely to persist until the Red Sea reopens or alternative solutions emerge.
Source: Load Star